TradeUP Acquisition Corp. (UPTDU) Prices $40M IPO


TradeUP Acquisition Corp. (UPTDU) Prices $40M IPO

Jul 14, 2021 IPOs by Marlena Haddad

TradeUP Acquisition Corp.  announced the pricing of its $40 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “UPTDU” Thursday, July 15.

The new SPAC aims to combine with a technology target preferable with operations in the automotive or automotive-related, semiconductor, artificial intelligence, digital health, e-commerce and education sectors. TradeUP is led by Co-CEO and Chairman Mr. Jianwei Li, Co-CEO Mr. Weiguang “James” Yang, and CFO Ms. Luqi “Lulu” Wen.

Total SPAC deal count for 2021 year-to-date is now 371. This offering is expected to close on Monday, July 19.

EF Hutton, a division of Benchmark Investments, LLC, is serving as the sole book-running manager for the offering. Hunter Taubman Fischer & Li LLC is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Friedman LLP serves as auditor. Wilmington Trust, National Association is acting as trustee.